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Cost management for one of the country's biggest new multi-storey car parking developments

Broadmarsh Multi-storey Car Park

As one of the country's largest new build multi-storey car parking developments, we have played a central role in helping Nottingham City Council to develop its strategy with certainty of project costs since its inception.

Currently being constructed on site, at the start of our appointment the proposed scheme was for a complete refurbishment of the existing facility, however based on our expert recommendation this has been transformed into a new build due to the significantly longer building lifespan this would provide.

In the role of Cost Manager, we have been able to provide strategic advice relating to costing of designs and preparation of accurate budgets, procurement, and tender evaluation to confirm best value for money, and life cycle cost analysis to meet our client's goal for a multi-storey car park with a 50-year lifespan.

An outstanding regional landmark project, which has delivered a sustainable legacy for the people of Nottingham, the project represents an exemplar of collaborative working, with the strength of the relationships achieved between all parties resulting in the delivery of a striking civic building on time, to budget, safely and to the full satisfaction of all parties.

There were ambiguities in contractor tenders received, requiring us to query these and increase confidence in construction costs and quality of completed works.

Due to the different funding stream, cash flow was key for the authority to draw down the necessary fund in monthly and quarterly stages.

With significant change requests made during project delivery, we needed to provide our client with relevant data to support its decision making.

A bespoke cashflow had been developed which updated as and when changes were instructed and revised on a monthly basis to account for any over/under spend against the forecast for each monthly assessment. This provided the authority an update cash flow forecast each month which is currently proving successful for their funding draw downs.

Drawing on the team’s extensive car park experience, we were able to analyse the fine details of the specification and associated costs and quality, drawing on our vast market knowledge of specialist contractors, suppliers and products, such as the exact type of deck coating to be used.

To support decision making around changes, we supplemented our monthly financial reports with regular one to one meetings with the client to run through the fundamentals of cost to date and forecast cost.

Key info

Client

Nottingham City Council

Status

Recently completed

Management

Cost and commercial management, Civil engineering, Structural engineering, Property and asset advisory

Sector

Infrastructure

Location

Nottingham

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